AUO announces 8% increase in consolidated revenue for Q3 2012

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  AUO states that it continues to cultivate new technologies. Image: slashgear.com

AU Optronics Corporation (AUO) has announced consolidated revenue for the third quarter of 2012 at NT$102,781 million (US$3,509 million), up 8% from the previous quarter. Gross profit was -NT$1,862 million (-US$64 million), with the gross margin of -1.8%.

Gross profit was -NT$1,862 million (-US$64 million), with the gross margin of -1.8%. Operating loss was NT$9,147 million (US$312 million), with the operating margin of -8.9%. AUO's net loss for the third quarter of 2012 was NT$16,479 million (US$563 million). Net loss attributable to equity holders of the parent company was NT$16,275 million (US$556 million), or a basic EPS of -NT$1.84 (-US$0.63 per ADR).

Operating loss was NT$9,147 million (US$312 million), with the operating margin of -8.9%. AUO's net loss for the third quarter of 2012 was NT$16,479 million (US$563 million). Net loss attributable to equity holders of the parent company was NT$16,275 million (US$556 million), or a basic EPS of -NT$1.84 (-US$0.63 per ADR).

The company attributes its figures to a gradually recovering TV panel market. AUO states that its capacity utilization rates have also steadily increased, while its days of inventory decreased substantially.

In the third quarter of 2012, shipments for AUO's large-sized panel shipments reached around 33.2 million units, up by 4.6% quarter-over-quarter. Shipments for small and medium-sized panels were around 42.2 million units, up 11.1% quarter-over-quarter.

However, the company’s profitability grew slower than expected due to its new technology platforms and new products, especially for small and medium-sized products, which were still in the production ramp up period. Therefore, the contribution from these new products to the company's profitability was less than expected.

AUO’s solar business is still facing an industry downturn. Going forward, the company said it would adjust its operation scale and cut operating costs as well as expenses, aiming to reduce the operating losses in the solar business. AUO also said it was adjusting its operation scale and has cut operating costs as well as expenses.

AUO said it was continuing to cultivate new technologies and currently has achieved initial success in development cooperation with its customers on a number of new products.